Reshaping Global Value Chains in Light of COVID-19: Implications for Trade and Poverty Reduction in Developing Countries

doi:10.1596/978-1-4648-1821-9

Publication:
Reshaping Global Value Chains in Light of COVID-19: Implications for Trade and Poverty Reduction in Developing Countries

dc.contributor.author	Ferrantino, Michael J.
dc.contributor.author	Brenton, Paul
dc.contributor.author	Maliszewska, Maryla
dc.date.accessioned	2022-02-25T00:19:59Z
dc.date.available	2022-02-25T00:19:59Z
dc.date.issued	2022-03-04
dc.description.abstract	Global value chains (GVCs) have driven dramatic expansions in trade, productivity, and economic growth in developing countries over the past three decades. Reshaping Global Value Chains in Light of COVID-19: Implications for Trade and Poverty Reduction in Developing Countries examines the economic impact of the COVID-19 (coronavirus) pandemic on GVCs and explores whether they can continue to be a driver of trade and development. The book undertakes the following: • Assesses what the impact of previous crises, such as the global financial crisis of 2008–09, can say about of the resilience of GVC firms to shocks • Examines what high-frequency data on trade flows can show about the impact of COVID-19 during the sharp global recession of 2020 • Uses discussions with GVC firms to gain a deeper understanding of the impacts of—and their responses to—the COVID-19 shock • Explores simulations from a global economic model to assess the potential longer-term impacts of COVID-19 on low- and middle-income countries and key factors shaping the global economy, including the evolving role of China, the rise of trade restrictions, and policy responses to global warming • Asks what steps countries and international institutions can take to enhance the resilience of GVCs in low-income countries to future shocks. The analysis shows that well-operating GVCs are a source of resilience more than a source of vulnerability. Moreover, steps to maintain and enhance trade contribute to managing a crisis and recovery, while measures to reshore production make all countries worse off. This economic crisis offers countries an opportunity to reshape the global economy into a greener, more resilient, and inclusive system that is better equipped for a changing world. Trade is a powerful tool for achieving this aim.	en
dc.identifier	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099454211022228485
dc.identifier.doi	10.1596/978-1-4648-1821-9
dc.identifier.isbn	978-1-4648-1821-9
dc.identifier.uri	https://hdl.handle.net/10986/37032
dc.language.iso	en
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	GLOBAL VALUE CHAIN
dc.subject	COVID-19
dc.subject	CORONAVIRUS
dc.subject	PANDEMIC IMPACT
dc.subject	LABOR MARKET
dc.title	Reshaping Global Value Chains in Light of COVID-19	en
dc.title.subtitle	Implications for Trade and Poverty Reduction in Developing Countries	en
dc.type	Book	en
dc.type	Livre	fr
dc.type	Libro	es
dspace.entity.type	Publication
okr.date.disclosure	2022-03-04
okr.guid	099454211022228485
okr.guid	099504211022225737
okr.identifier.doi	10.1596/978-1-4648-1821-9
okr.identifier.report	SKU211821
okr.language.supported	en
okr.pdfurl	http://documents1.worldbank.org/curated/en/099454211022228485/pdf/IDU03cbebf2507975046f70a178034620f7de063.pdf
okr.region.geographical	World
okr.topic	Private Sector Development::Global Value Chains and Business Clustering
okr.topic	Social Protections and Labor::Labor Markets
okr.unit	GGEVP
relation.isAuthorOfPublication	cc53f551-aad5-53c5-b5de-ae12ef688106
relation.isAuthorOfPublication.latestForDiscovery	cc53f551-aad5-53c5-b5de-ae12ef688106